GBPUSD Weekly Technical Outlook (16-20 March, 2015) | March 14, 2015

Gbpusd has broken its major support at 1.4800 level. Now this pair is looking for another critical support at 1.4220 area. This pair is breaking its all supports continuously for last two weeks. It downs 850+ pips since last two weeks. So it indicates its strong bearish power. This pair is now on strong bearish mode. So we need to find sell entry on this pair. As this pair fell rapidly last week, it can take little retrace. When retrace ends and any bearish pattern formed, then we can take sell entry on this pair.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 1.5297

Resistance One (R1): 1.5019

Pivot Point: 1.4859

Support One (S1): 1.4581

Support Two (S2): 1.4421